Vatican Bank To Be Scaled Back, Restructured: Sources

WochitJul. 07, 2014. 12:33 PM EST

Vatican sources said on Monday, The Vatican bank will soon hive off its investment activities and...
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Vatican sources said on Monday, The Vatican bank will soon hive off its investment activities and transform itself into an institution dedicated mostly to payment services for the Roman Catholic Church. The details of the down-sizing will be announced on Wednesday by Australian Cardinal George Pell, who heads the Secretariat of the Economy set up earlier this year to oversee Vatican finances and stem scandals that have embarrassed the Church for decades.
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